More investors are starting to worry that a rapid unwind in the AI trade will spill over to the Australian dollar. But not everyone agrees.
A high-stakes clash is brewing over the outlook for the Australian dollar as fund managers build a record bet against the currency over souring AI sentiment, locking horns with hedge funds that still expect the currency to rally.
Weekly data from the US Commodity Futures Trading Commission (CFTC) showed asset managers holding a record short position in the Aussie, worth $12.9 billion at October 20.
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